Investment banker signs on at HandCraft building

handcraft sign

The nearly 90,000-square-foot former dry cleaning facility at 1501 Roseneath Road. (Michael Schwartz)

The redeveloped HandCraft Cleaners building in Scott’s Addition has snagged two more tenants – this time attracting a local investment banking firm and a giant of the plumbing supply industry.

Smither & Co. and Ferguson Enterprises have signed leases for office space in the nearly 90,000-square-foot former dry-cleaning facility at 1501 Roseneath Road, which is owned by HandCraft owners and brothers Jay, Keith and Jeff Nichols.

Smither & Co., which acts as a broker-dealer and investment banking firm helping companies raise capital and work through mergers and acquisitions, is taking space on the first floor of the building’s Roseneath side.

President Ken Smither said the move was prompted by the lease for its office at 2108 W. Laburnum Ave. in Northside ending.

“I liked the building and just decided to make a move – there’s a little more energy over there,” Smither said of Scott’s Addition.

He’s taking 1,200 square feet and will be next to Randstad USA, a staffing firm moving from Stony Point office park on the Southside.

“It’s just me so I don’t need a ton of space,” Smither said. “I’ve been solo for about 10 years now.”

Ferguson, a massive company headquartered in Newport News, is setting up in the building’s so-called penthouse, a lone 1,800-square-foot space on the third floor.

Cheryle Toy, who with fellow Divaris Real Estate broker Read Goode handles leasing at HandCraft, said Ferguson will use the offices for executives.

Ferguson and Smither add to a tenant list that includes Evatran, Vasen Brewing, the Fahrenheit Group, 510 Architects, Hazen and Sawyer, Virginia Council of CEOs and Stella’s Market.

Both Randstad and Smither’s spaces should be ready by the end of January, Toy said. The Ferguson space is expected to be ready by March 1. Hazen and Sawyer is expanding into an extra 1,500 square feet that should be ready in March. Stella’s is due to open in coming weeks.

Design of Smither’s space is being handled by 510 Architects, which is also working on the Ferguson space. Trent Construction is the general contractor.

With the two new lessees signed on, Toy said, the building has only 5,600 square feet of available vacant space, adjacent to Fahrenheit’s offices. The status of Evatran’s space soon could change, as the electric car charger company has a deal in the works to be taken over by Chinese investors.

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Bruce Milam
Bruce Milam
2 years ago

Congratulations to the Nichols brothers for pulling off this conversion as well as to Divaris for its good work. The addition of the Ferguson offices is the capstone to a terrific re-use of the property. Scott’s Addition! Who knew?